Zabalza values Ercros in view of the competition between takeover bids

The AGM approves all proposals presented by the board

Ercros shareholders meeting in 2024
Image during the shareholders meeting celebration

In his speech before the general meeting of shareholders of Ercros, which was held today in Barcelona, the president of the company, Antonio Zabalza, stated “That the control of a company gives rise to an international competition process means that the company has worth."

The president has reminded the shareholders that they have the last word regarding the takeover bids presented by Bondalti and Esseco, for 100% of the capital of Ercros, and that they are currently pending the corresponding administrative authorizations: "If you collectively decide to accept vast majority of any of the takeover bids will be the offeror, as the new controlling shareholder of the Company, who will direct its business in the future, and if, on the contrary, if the majority do not accept any of the takeover bids, you will continue to be the beneficiaries of the performance of this Ercros more efficient, more sustainable and with greater operational capacity.”  

The president has expressed confidence that the current phase of cyclical weakness that the European chemical sector, and therefore Ercros, is going through, will soon give way to a recovery that, according to Zabalza, “will lead to a significant structural leap in the productive efficiency of the company thanks to the complete execution of the 3D Plan and the additional investments that are already being contemplated.”

The general meeting has approved all the resolution proposals presented by the board of directors, among which the payment of a dividend of 9.6 euro cents per share stands out, which will be effective on July 10. This approved dividend represents a disbursement for the company of 8.78 million euros, equivalent to 32.7% of the profit obtained by the Company in 2023.

5,296 shareholders who own 65,279,457 shares attended the meeting, representing 71.393% of the subscribed capital and who have the right to receive an attendance premium of 0.005 euros per share.